EURUSD Daily Forecast: October 18

Monday, October 17, 2016 21:14

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EURUSD Forecast
The EURUSD had a moderate bullish momentum yesterday and hit 1.1026 earlier today. The bias is neutral in nearest term probably with a little bullish bias testing 1.1050/70 resistance area. A clear break above that area could trigger further bullish pressure testing 1.1125. Immediate support is seen around 1.0980. A clear break below that area could trigger further bearish pressure testing 1.0910 but as you can see on my H4 chart below 1.1000 – 1.0910 area is my “buy zone” with a tight stop loss below 1.0910. Overall I remain neutral as price has been moving sideways without clear direction in the last few months.